Adesto Technologies Corporation (NASDAQ:IOTS)‘s stock had its “strong-buy” rating reissued by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday, August 9th. They presently have a $10.00 price target on the technology company’s stock, up from their prior price target of $7.00. Needham & Company LLC’s price objective indicates a potential upside of 53.85% from the stock’s current price.
A number of other research analysts have also weighed in on IOTS. Zacks Investment Research lowered Adesto Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, April 19th. ValuEngine raised Adesto Technologies Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Benchmark Co. increased their price target on Adesto Technologies Corporation from $5.00 to $7.00 and gave the stock a “buy” rating in a research note on Tuesday, July 4th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $6.81.
Adesto Technologies Corporation (NASDAQ IOTS) opened at 6.50 on Wednesday. The company’s market cap is $136.13 million. Adesto Technologies Corporation has a 12 month low of $1.50 and a 12 month high of $6.65. The firm has a 50-day moving average price of $5.07 and a 200 day moving average price of $4.63.
Adesto Technologies Corporation (NASDAQ:IOTS) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.03. Adesto Technologies Corporation had a negative return on equity of 35.81% and a negative net margin of 21.41%. The company had revenue of $13.40 million for the quarter, compared to analyst estimates of $12.98 million. During the same quarter in the prior year, the company posted ($0.21) EPS. The business’s revenue for the quarter was up 30.1% compared to the same quarter last year. Equities research analysts predict that Adesto Technologies Corporation will post ($0.13) EPS for the current year.
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Several hedge funds and other institutional investors have recently modified their holdings of the company. Gilder Gagnon Howe & Co. LLC increased its stake in shares of Adesto Technologies Corporation by 29.2% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 1,673,088 shares of the technology company’s stock valued at $6,943,000 after buying an additional 378,233 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in shares of Adesto Technologies Corporation during the second quarter valued at about $1,982,000. Herald Investment Management Ltd bought a new stake in shares of Adesto Technologies Corporation during the first quarter valued at about $1,460,000. Unterberg Capital LLC bought a new stake in shares of Adesto Technologies Corporation during the second quarter valued at about $1,433,000. Finally, Spark Investment Management LLC increased its stake in shares of Adesto Technologies Corporation by 79.6% in the second quarter. Spark Investment Management LLC now owns 176,200 shares of the technology company’s stock valued at $801,000 after buying an additional 78,090 shares in the last quarter. 15.59% of the stock is currently owned by institutional investors and hedge funds.
Adesto Technologies Corporation Company Profile
Adesto Technologies Corporation is a provider of application-specific and ultra-low power non-volatile memory products. The Company optimizes its non-volatile memory products for Internet of Things (IoT), applications, including current and next-generation Internet-connected devices in the consumer, industrial, medical and wearables markets.
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